Nycomed Amersham biotech flotation depresses share price
This article was originally published in Clinica
Nycomed Amersham shares fell back last week on the news that it planned to float 10% of the 55% stake it has in Amersham Pharmacia Biotech on the US Nasdaq exchange. The move, which will value APB at an estimated $4 - $6 billion, does not signal that Nycomed wishes to relinquish control of the floated company. Its partner, Pharmacia & Upjohn, is temporarily prevented from matching Nycomed's partial flotation, due to US SEC rules following its acquisition of Monsanto.